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. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >> we're going to head over that cliff. >> i know it's hard for the republicans. the minute those leaders move forward, they get viscerated. >> guns shouldn't be available for anyone, any time, anywhere. >> the conversation still wages on. >> its plan to add more guns to schools. >> a completely dumb-ass idea. >> i don't think the nra is listening. >> you can call it whatever you want to call it. >> congress hasn't confirmed the director of the bureau of alcohol, tobacco and firearms. >> dysfunctional, dysfunctional, dysfunctional congress. >> we're not going to allow what has happened in the past to go on. >> congress has just three business days to
. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >>...
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Jan 1, 2013
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cliff on overting tax hikes on middle income americas. they're still vague about delaying across-the-board spending cuts known as the sequester. stay with msnbc for more updates. now back to "hardball." >> let's dig into the turning points of general election. first up, the video that turned out to be the low point for the romney campaign. the candidates taped campaigns that half the americans are lazy. it's known as the 47% video. let's listen again. >> . >> never trust the caterers. anyway, republican national chairman committee man. i say that because i could not have been somebody who paid 1 $10,000 to go 234 there and then hurt the guy. >>> if u you're right about this election, it's the numbers. first of all, they occupy people. 1 pnt. all of the sudden, 1% became the thing to talk about. and then the 47% being anybody who's on any kind of government benefit program. whether it's disability or retirement or military or pension. everything was panted as bad. where did he get that number? >> well, look, you know, this election was all
cliff on overting tax hikes on middle income americas. they're still vague about delaying across-the-board spending cuts known as the sequester. stay with msnbc for more updates. now back to "hardball." >> let's dig into the turning points of general election. first up, the video that turned out to be the low point for the romney campaign. the candidates taped campaigns that half the americans are lazy. it's known as the 47% video. let's listen again. >> . >> never...
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Dec 29, 2012
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cliff drama. most americans could see a rise in taxes and government spending cuts if government does not reach a deal before year's end, and i want to bring in two capitol hill veterans, budget committee member as well, martin frost of texas and david winston, he was aide to newt gingrich and adviser to newt gingrich's 2012 presidential campaign. i want to pick up where we left off last hour. gentlemen, you were making a point. my question is what happened to those talks between the president and john boehner. at one point they were 400 million apart and it was one whole heck of a lot of money and what happened? i think what happened is that the president decided that he was going to up the number from 800 to $1.2 trillion worth of revenue that he wanted. >> that took speaker boehner to the point where he didn't think they would go through the house and things began to fall apart at that point and they ended up going with this commission and i think it was frustrating to both men. my sense is the
cliff drama. most americans could see a rise in taxes and government spending cuts if government does not reach a deal before year's end, and i want to bring in two capitol hill veterans, budget committee member as well, martin frost of texas and david winston, he was aide to newt gingrich and adviser to newt gingrich's 2012 presidential campaign. i want to pick up where we left off last hour. gentlemen, you were making a point. my question is what happened to those talks between the president...
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Dec 31, 2012
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the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland
the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff....
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Dec 27, 2012
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we're talking about the tack increases, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do we know about a possible compromise on the senate siepd what they might be proposed in fairly short order? >> compromise, i'm not so sure we'll see that. but i was told by a republican senator and democratic senator that the pr indicated before he left for hawaii that he, the president, is expected to send a piece of legislation up today with his scaled back tax plan. that's something that the president outlined in general terms on the friday before he left for hawaii and since then what we've been hearing from republicans, particularly mitch mcconnell's office is we can't talk abo
we're talking about the tack increases, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do...
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. >> the fiscal cliff isn't the only looming deadline. geithner is warning the nation will hit their debt ceiling on new year's eve. how will it impact your wallet? we are joined by rich edson. nice to see you. what will it mean for everyone? >> if you are borrowing money that could be problem matt ag. analysts say if we surpass the debt ceiling, and the pressurery department can do accounting and buy us a little more time, about $200 billion more time. but if we do surpass that point, interest rates would go up if you are looking to borrow money. money invested in the stock market, analysts predict worldwide markets would have major problems. if you get payments from the government in any form, whether paidfy the government, whether your job is involve in the government or if you get social security checks, if you get veterans benefits, if your government pace your healthcare, all of that could be at risk if there's not enough money or borrowing authority to pay the bills. >> you mentioned the word extraordinary circumstances. what a nic
. >> the fiscal cliff isn't the only looming deadline. geithner is warning the nation will hit their debt ceiling on new year's eve. how will it impact your wallet? we are joined by rich edson. nice to see you. what will it mean for everyone? >> if you are borrowing money that could be problem matt ag. analysts say if we surpass the debt ceiling, and the pressurery department can do accounting and buy us a little more time, about $200 billion more time. but if we do surpass that...
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Jan 1, 2013
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cliff. good evening. i'm richard lui. you're watching the standoff in washington, d.c. the house gop is meeting at this hour for the second time today. leadership and members are discussing how to move forward on a bill they say need to include spending cuts. house speaker john boehner and eric cantor arrived at the meeting together. but it was cantor who set off the storm earlier today just hours ago by announcing he could not support the senate bill that was approved this morning at 2:00 a.m. house democratic leader nancy pelosi attempted to put pressure on tonight. she posted this on twitter saying quote, strong majority of house democrats support the bipartisan senate bill that passed 89-8. confident it will pass and speaker boehner allows an up or down vote. and republicans like congressman jack kingston of georgia blame the senate for a hastily written bill. >> it was way past those senators' bedtime. they were blurry eyed when they were reading it. we're trying to fill in the gap wher
cliff. good evening. i'm richard lui. you're watching the standoff in washington, d.c. the house gop is meeting at this hour for the second time today. leadership and members are discussing how to move forward on a bill they say need to include spending cuts. house speaker john boehner and eric cantor arrived at the meeting together. but it was cantor who set off the storm earlier today just hours ago by announcing he could not support the senate bill that was approved this morning at 2:00 a.m....
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there is a tentative agreement to block fiscal cliff across-the-board tax increases and sweeping spenning cuts that were due to take effect at midnight. though the midnight deadline was brea final agreement. there could be a senate vote in a matter of hours on the proposed deal. and the house will reconvene less than 12 hours from now. the temporary agreement keeps income tax rates steady for most americans, limiting tax hikes to people making more than $450,000. and extends jobless benefits for 2 million unemployed. and puts off automatic spending cuts on the pentagon and domestic programs for two months. now back to "the five" new year's eve special. for all of your headlines, go to our web site at foxnews.com. five." ♪ ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax. >> what? that is a hoax? it's not real? >> oh, man
there is a tentative agreement to block fiscal cliff across-the-board tax increases and sweeping spenning cuts that were due to take effect at midnight. though the midnight deadline was brea final agreement. there could be a senate vote in a matter of hours on the proposed deal. and the house will reconvene less than 12 hours from now. the temporary agreement keeps income tax rates steady for most americans, limiting tax hikes to people making more than $450,000. and extends jobless benefits...
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i think beyond in fiscal cliff deal there has to be a long-range plan. the simpson bowles plan i think is the one that makes most sense entitlement reform, spending cuts. and many other measures that need to happen. look, we have to have jobs and economic growth in this country he. that should be paramount in trying to resolve these economic problems. i think the congress and the president as soon as this deal is over and i think there will be one in the next week or so, short-term first, then a longer term one has to get down to job creation, economic growth, technology growth, international issues affecting our international security, this really needs to happen and it has to be bipartisan and i think we are moving in that direction right now. >> i'm going to make a final bet and prediction with you only because we are odd friends. i will bet you a gentleman's bet that the president wants the fiscal cliff and he will come back and give back the new tax increases and then there will be a huge fight over the debt ceiling and i don't see a path to any rea
i think beyond in fiscal cliff deal there has to be a long-range plan. the simpson bowles plan i think is the one that makes most sense entitlement reform, spending cuts. and many other measures that need to happen. look, we have to have jobs and economic growth in this country he. that should be paramount in trying to resolve these economic problems. i think the congress and the president as soon as this deal is over and i think there will be one in the next week or so, short-term first, then...
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cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending cuts we've all heard about that are set for january 1st, this temporary deal would delay them for another six months. few are optimistic this new plan, if we do go over the clifr, would work out. so what would half if we go over the cliff? the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right
cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending...
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Dec 28, 2012
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cliff. >> spending cuts this is based on good intentions, a framework or agree to agree to spending cuts down the road and this is the criticism that historically, sort of ad nauseam, that there are those good intentions that never through. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and gdp, other economic data points. >> it puts republican caucus in the house in the position of having to decide whether no deal is better than a bad deal. >> you know, melissa, if i could chime in, one thing, you didn't hear the president talking about the debt ceiling, and the treasury secretary says we'll start running up against the debt ceiling on monday. that's a very c
cliff. >> spending cuts this is based on good intentions, a framework or agree to agree to spending cuts down the road and this is the criticism that historically, sort of ad nauseam, that there are those good intentions that never through. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what...
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> joining us now to examine the david gregory interview and the coverage of this fiscal cliff showdown. bob cusack manager of "the hill." what does it say about the state of the budgetary wars that president obama chose to go on a sunday talk show. >> he is doing this interview why congress is trying to do it. very critical of congress and i think this interview wasn't exactly combative. he challenged him on it. >> who challenged who? >> david gregory challenged obama on some points but made $1 trillion in cuts, he also vowed to cut the deficit in half in 2009. that has not happened. >> compared david gregory we saw at the top of the show waving that magazine at wain lapierre. this was a low-key interview. >> meek and weak. i didn't find david gregory, i think he lost his punch over this short-lived vacation. a number of points he didn't press the president hard enough. >> the president gave short answers. >> but there's really no excuse. >> the pomp and the ceremony. on the other hand, and you've had experience covering barack obama going back to chicago, it can be hard to interrupt d
> joining us now to examine the david gregory interview and the coverage of this fiscal cliff showdown. bob cusack manager of "the hill." what does it say about the state of the budgetary wars that president obama chose to go on a sunday talk show. >> he is doing this interview why congress is trying to do it. very critical of congress and i think this interview wasn't exactly combative. he challenged him on it. >> who challenged who? >> david gregory challenged...
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short his hawaiian vacation to get back to fiscal cliff negotiations but given that he and democrats have put everything they can on the table and republicans still won't compromise what hope is there in striking a deal that doesn't leave the middle class high and dry and later the fuels for newtown connecticut victims may have finally ended but unfortunately funerals for gun victims in america never truly stop another story of a mass shooting and how the n.r.a. is more interested in saving profits than saving lives. and we begin tonight with occupy wall street during the heyday of the occupy movement last year if you were lucky enough to walk through one of the encampments as i was frequently here at occupy d.c. here to see a community built as an example of what our nation should be striving for you would have seen health care provided for free no for profit health insurance leeches looking to squeeze as much money as they can out of family caring for a sick child you also want to see education provided for free and healthy food provided for free and shelter provided for free see w
short his hawaiian vacation to get back to fiscal cliff negotiations but given that he and democrats have put everything they can on the table and republicans still won't compromise what hope is there in striking a deal that doesn't leave the middle class high and dry and later the fuels for newtown connecticut victims may have finally ended but unfortunately funerals for gun victims in america never truly stop another story of a mass shooting and how the n.r.a. is more interested in saving...
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there's also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. benefits will only be available for up to 26 weeks, a drastic reduction from the 73 weeks available to some out-of-work americans. i want to go to sam stein, but first, dr. sachs, if we go over the cliff, it is the poor americans who will be hit the hardest, correct? >> well, there are parts of that where the poor will be hit the hardest. but if we make a deal right now of the kind that's being talked about, it's going to gut the federal budget for a decade to come. so we're on the brink either of these difficulties right now, which are real, or making terrible decisions that are going to lock us into a situation that we absolutely
there's also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. benefits will only be available for...
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. >> reporter: the fiscal cliff preoccupation hab about taxes but there's another part, across-the-board cuts, and they are preparing to send out furlough noticees, and apply want quester. >> o'donnell: the white house is preparing to do that? >> reporter: it that's. because the deadline is approaching. it cannot reasonably ignore the law, and misapplying. so it is now preparing to send out a variety of notices to federal contractors, the contract is suspended or canceled. or to tell various agency the-- the t.s.a., f.a.a., all through the federal government, lay people off, this is real, because they seaport negotiations are not getting anywhere near a deal and they have to prepare for the cutting side of the fiscal cliff, not just the taxes. >> o'donnell: and, nancy, if there is no deal, what happens next on monday? >> reporter: essentially we move to plan b, where senates democrat introduce their own plan in the senate that caps the bush tax cuts ap at $250,000 or less, extends long-term unemployment benefits, maybe imposing spending cuts to push off the sequester for six months or a
. >> reporter: the fiscal cliff preoccupation hab about taxes but there's another part, across-the-board cuts, and they are preparing to send out furlough noticees, and apply want quester. >> o'donnell: the white house is preparing to do that? >> reporter: it that's. because the deadline is approaching. it cannot reasonably ignore the law, and misapplying. so it is now preparing to send out a variety of notices to federal contractors, the contract is suspended or canceled. or...
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. >> without action, the fiscal cliff would go into effect on january 1. tax reductions and cuts in federal spending john boehner was called on to call the house back in session. later, the house will return sunday at 2:00 p.m. eastern. >> a pro-forma session is a session without substance and solutions. america is looking to its congress for both. it is certainly looking to congress to be working. i said everywhere i go, people ask me and urge me with hope in their voices, "i hope you are working on that fiscal cliff," "i hope you are getting the situation that we are not going over the fiscal cliff." sadly, i have to tell them that we are not there, we are not here, we are not working. every democrat, every republican ought to be here. the speaker ought to call us back into session. it is not as if we do not have a lot of work to do. in fact, we have a lot of work to do. secretary geithner sent a letter to me and others yesterday, and it was reported in the paper today that america will reach its debt limit on december 31. that needs to be dealt with so
. >> without action, the fiscal cliff would go into effect on january 1. tax reductions and cuts in federal spending john boehner was called on to call the house back in session. later, the house will return sunday at 2:00 p.m. eastern. >> a pro-forma session is a session without substance and solutions. america is looking to its congress for both. it is certainly looking to congress to be working. i said everywhere i go, people ask me and urge me with hope in their voices, "i...
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cliff most of the attention is about taxes going up and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called sequester that would hit the pentagon. on "fox news sunday" senator lindsey graham told chris wallace he got a call from the defense secretary suggesting these cuts are coming. lake a listen. >> i was called by leon panetta at 7:30 during dinner. >> secretary of defense. >> this is the failure of the supercommittee to find $1.2 trillion in cuts. half of the 1.2 falls on defense who already cut. he says if we do this we will shoot the defense department in the head and send out 800,000 layoff notices the beginning of the year. he is worried to death if we don't fix sequestration we will destroy the
cliff most of the attention is about taxes going up and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called...
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nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off strong, comin
nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the...
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what we're doing here, we are not going to offset the fiscal cliff, just doing the bush tax cuts. we'll only take away about 11%, 12% of total economic impact of the so-called fiscal cliff, all of the policies brought together because you'll be letting the payroll tax expire, the refundable tax cuts expire, and the sequester will be doing and we won't be doing much deficit reduction. we'll be increasing the deficit. it is just, i think, hard to step back and take in the totality of congressional failure around this issue. >> well, let's talk about what exactly is likely to happen or is the threat of what will happen. talk about the pentagon. talk about federal workers. talk about obviously the unemploy unemployed whose benefits are going away. >> absolutely. the biggest -- the most dangerous thing, the fiscal cliff is the unemployment insurance. if we go over for a month we can sort of trick everything else. we can -- the irs can do some tricks to make it so you don't feel tax increases quickly. we can do tricks to make it so we don't lay off people at pentagon, we can furlough th
what we're doing here, we are not going to offset the fiscal cliff, just doing the bush tax cuts. we'll only take away about 11%, 12% of total economic impact of the so-called fiscal cliff, all of the policies brought together because you'll be letting the payroll tax expire, the refundable tax cuts expire, and the sequester will be doing and we won't be doing much deficit reduction. we'll be increasing the deficit. it is just, i think, hard to step back and take in the totality of...
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cliff, otherwise tax increases and spending cuts go into effect. negotiations between congress and the president could take friday when all four leaders of the house and senate meet with the president at the white house. a look at the countdown to the fiscal cliff, the guest will be a white house honor. home on a ship and the united states with tools author of american the nightmare how neighbor -- america undermines the negotiation nightmare. more from militia and townsman of the u. s economic research surfaced and heron radcliffe. coming up on c-span, a discussion on the history of the new york times. an examination report on the impact of student loans on parents. interviews with returning members of congress continue with senator been wilson of nebraska. >> you think of washington, 25 years before the civil war, what would you think? woody things lavery was well entrenched, black people were more in visual. white people were true and gift. that is actually not true as well. washington then had about 30,000 people of them. the majority of the bl
cliff, otherwise tax increases and spending cuts go into effect. negotiations between congress and the president could take friday when all four leaders of the house and senate meet with the president at the white house. a look at the countdown to the fiscal cliff, the guest will be a white house honor. home on a ship and the united states with tools author of american the nightmare how neighbor -- america undermines the negotiation nightmare. more from militia and townsman of the u. s economic...
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we don't have to employ the phrase fiscal cliff at all. any ideas? >> how about a deadline? >> how about do your job? it is ridiculous. if tax hikes and spending cuts were not enough, there is a new reminder that the debt ceilings hanging over in a letter to congress, timothy geithner warned they would hit the legal borrowing limit without the okay to borrow more, they would be forced to take extraordinary measures to keep paying the bills. they reference the impending fiscal cliff if a compromise can't be reached by next year on the big unanswered issues. with both side locked in the issues, democrats are not budging. they want to extend tax cuts and incomes below $250,000 for long unemployment benefits and delay the spending cuts. what happens if we go off the fiscal cliff for a few days. >> not much is my understanding. it's much more what the market psyche will do and with respect with the tax hikes and cuts, the hit people take is not as much as the rhetoric suggested early on. what weather it's enough to get back to negotiating things, i agree with you that we will go
we don't have to employ the phrase fiscal cliff at all. any ideas? >> how about a deadline? >> how about do your job? it is ridiculous. if tax hikes and spending cuts were not enough, there is a new reminder that the debt ceilings hanging over in a letter to congress, timothy geithner warned they would hit the legal borrowing limit without the okay to borrow more, they would be forced to take extraordinary measures to keep paying the bills. they reference the impending fiscal cliff...
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Dec 30, 2012
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guest: it is not part of the fiscal cliff. there is a tax increase because of health care reform act. it is not considered part of the fiscal cliff. the cliff has the potential, all the tax increases and spending cuts, of doing a lot more damage lot more quickly. cook -- there are other parts, like coverage kids up to the age of 26. every time i watch -- what into the emergency room, i get angry about people who walk into the of emergency room and i have to pay for them. i talked to my doctor about this. the cost is something we all and the paying. -- end up paying. guest: let me say that if you are over 65 and you can get medicare, there should not be any reason why your health care or what the doctor can do for you will change. even if you are concerned about the doc-fix, that will be taken care of very shortly. that is one part of the fiscal cliff that i am pretty sure it will be avoided before it affects medicare patients. guest: that may be one of the things that she was talking about. part of the fiscal cliff is that con
guest: it is not part of the fiscal cliff. there is a tax increase because of health care reform act. it is not considered part of the fiscal cliff. the cliff has the potential, all the tax increases and spending cuts, of doing a lot more damage lot more quickly. cook -- there are other parts, like coverage kids up to the age of 26. every time i watch -- what into the emergency room, i get angry about people who walk into the of emergency room and i have to pay for them. i talked to my doctor...
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Dec 31, 2012
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but avoiding the fiscal cliff is really not the goal here. cutting the deficit is. this is a case of gigantic political friendly fire in my view. we're targeting the wrong enemy. we should be targeting the deficit. >> i've read, dan, more carefully and it's extremely insightful. and one of the things that i take from you is that you're a markets guy who thinks about macro, and not just u.s. macro, but global macro. what i don't get about what you're saying now -- one thing i get very much about what you're saying now is a small deal doesn't solve anything except the immediate cliff problem and that's not the only problem we have. it's actually relatively minor, i agree with you. but if we engage in $500 billion fiscal contraction next year i think we're going to have a recession. as a guy who pays attention to macro, how does that help anybody? >> well, look, i actually -- one of the reasons i said, and it was a provocation of saying, the fiscal cliff, after the election, my view of where this was going was exactly where we are this morning. which is probably why yo
but avoiding the fiscal cliff is really not the goal here. cutting the deficit is. this is a case of gigantic political friendly fire in my view. we're targeting the wrong enemy. we should be targeting the deficit. >> i've read, dan, more carefully and it's extremely insightful. and one of the things that i take from you is that you're a markets guy who thinks about macro, and not just u.s. macro, but global macro. what i don't get about what you're saying now -- one thing i get very much...
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Dec 27, 2012
12/12
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the president has returned early from his christmas vacation to work on avoiding the fiscal cliff, a series of tax increases and spending cuts set to take effect on january 1st. last night, the president called senator mcconnell and other leaders to discuss the need for the senate to act. the senator released a statement saying earlier he is happy to review what the president has in mind, but to date, according to senator mitch mcconnell, the senate democratic majority has not put forward a plan. when they do, members on both sides of the aisle will review the legislation and make decisions on how best to proceed. that in a statement from senator mcvet -- senator mitch mcconnell last night in response to the president as well as the president talking about the need for congressional action. later today, we will hear from house democratic leader steny hoyer. he will give dave rufi -- a briefing at about 2:15 p.m. we will have that live for you here on c-span. this morning on "washington journal" we heard from the chief economist of the national association of realtors, who talked abou
the president has returned early from his christmas vacation to work on avoiding the fiscal cliff, a series of tax increases and spending cuts set to take effect on january 1st. last night, the president called senator mcconnell and other leaders to discuss the need for the senate to act. the senator released a statement saying earlier he is happy to review what the president has in mind, but to date, according to senator mitch mcconnell, the senate democratic majority has not put forward a...
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Dec 26, 2012
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. >> president obama is cutting short his christmas break with the fiscal cliff looming large. >> the fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls behind as he gets back to work to try to prevent tax increases and spending cuts due to begin next week. there's just one problem. it appea
. >> president obama is cutting short his christmas break with the fiscal cliff looming large. >> the fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i...
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cliff is just a minor blip with you in the long run they actually won a large chunk of what they've been after? >> we're going to have to see what is the impact in the the days ahead. can the republicans somehow turn that around? they certainly, inside the white house believe just the opposite because they believe that john boehner was sort of out maneuvered here, he had been pressing the president, pressing the president for some of his issues and what boehner may have forgotten is at the end of the day if there's no action by the congress, all of the bush tax rates are expiring, so the president is going to get what he's wanted in this debate all along, which is that taxes are going up on the rich and-- >> the president's outmaneuvered the republicans from the very beginning on this. >> ed doesn't have to answer that question. >> and kimberly, we're going to give you the last question, before we go to mike emanuel. >> i have a civilized question for mr. henry. >> and civilized-- >> my goodness, bob. >> it sounds worse than the negotiations on the hill. >> it's worse, thank goodnes
cliff is just a minor blip with you in the long run they actually won a large chunk of what they've been after? >> we're going to have to see what is the impact in the the days ahead. can the republicans somehow turn that around? they certainly, inside the white house believe just the opposite because they believe that john boehner was sort of out maneuvered here, he had been pressing the president, pressing the president for some of his issues and what boehner may have forgotten is at...
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Dec 24, 2012
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thank you. >> thank you. >>> are retail sales diving off the fiscal cliff? we'll talk about how the tax cut debate is impacting the recent christmas shopping economy. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. >>> senator mike crapo is apologizing for his drunk driving arrest. he said, quoetd, i'm deeply sorry for the actions that resulted in this circumstance. i made a mistake for which i apologi
thank you. >> thank you. >>> are retail sales diving off the fiscal cliff? we'll talk about how the tax cut debate is impacting the recent christmas shopping economy. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save...
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Dec 31, 2012
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. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now? >>> next, scandal. can you guess who made our list because of bad behavior? well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's
. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now? >>> next, scandal. can you guess who made our list because of bad behavior? well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i...
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Dec 26, 2012
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president obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm woul
president obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech....
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Dec 31, 2012
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. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now? >>> next, scanl. can you guess who made our list because of bad behavior? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. to the best vacation sp(all) the gulf! this season, discover aleve. it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality
. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now? >>> next, scanl. can you guess who made our list because of bad behavior? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments...
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cliff the taxes aren't the biggest impact it's going to be spending cuts massive spending cuts because let's face it even though washington is seems seems to have forgotten how we can all mix were work when an economy is depressed when there's not people spending money it's up to the government to come in and invest in the. spend money here and we're talking about contractionary economics we're talking about cutting back spending which is the opposite of what we should be doing and it's the same thing that we're seeing happening in europe here we've seen it happen in spain and greece these massive austerity programs slashing spending and what's happening to their economies they're shrinking they're shrinking they're shrinking another recession another recession and yet we're about to embark on the same exact austerity here in the united states which is just completely mind boggling yeah really really interesting and we did hear just a little while ago from president obama i want to play just a little bit of what he had to say. preventing that tax hike as been my top priority because th
cliff the taxes aren't the biggest impact it's going to be spending cuts massive spending cuts because let's face it even though washington is seems seems to have forgotten how we can all mix were work when an economy is depressed when there's not people spending money it's up to the government to come in and invest in the. spend money here and we're talking about contractionary economics we're talking about cutting back spending which is the opposite of what we should be doing and it's the...
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we have hours go before the fiscal cliff deadline when dramatic increases and spending cuts kick in. congressional leaders and vice president biden are struggling to avoid the fiscal cliff. those negotiations continue this morning. nancy cordes is on capitol hill. nancy, good morning. >> reporter: good morning to you, norah. they have appeared to move closer to one another. democrats have come way up from the president's longstanding position that the bush tax cuts should expire for all household income over $250,000 a year. republicans have come way down from speaker boehner's insistence that that limit be set at a million dollars. and so if there's a deal today, and that's a big "if," you can expect it would be set around $400,000, $500,000, $600,000 a year, so certainly 90, 95% of americans would be keeping their tax cut. one of the biggest sticking points for the republicans right now appears that this deal doesn't include significant spending cuts. in fact, it contain as lot of new spending and so that is one major issue that's going to have to be ironed out. and if they don't g
we have hours go before the fiscal cliff deadline when dramatic increases and spending cuts kick in. congressional leaders and vice president biden are struggling to avoid the fiscal cliff. those negotiations continue this morning. nancy cordes is on capitol hill. nancy, good morning. >> reporter: good morning to you, norah. they have appeared to move closer to one another. democrats have come way up from the president's longstanding position that the bush tax cuts should expire for all...
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Dec 28, 2012
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i don't think the fiscal cliff problem hit social security or medicare right away. they kind of sealed that off from se questions ration. but you mentioned unemployment before. there are a variety of other government programs that will be drastically cut back on tuesday morning if we don't get some kind of a deal by monday night. >> you know, ryan, when you look at -- when clarence was talking,ives looking and i think i have it. bills that republicans and congress have blocked this year. a bill that would have increased the minimum wage, a buffet rule bill, the employment, nondis crimination act that would have prohibited hiring people on the basis of sexual orientation. a u.n. treaty to protect the rights of disabled people around the world and the paycheck famous act so that women don't get paid less than men for doing the same job. i mean, there's been a variety of bills that they have seen not go past. they have actually stopped in a variety of ways that would have helped the american people. >> yeah, and you can throw the violence against women act, reauthoriza
i don't think the fiscal cliff problem hit social security or medicare right away. they kind of sealed that off from se questions ration. but you mentioned unemployment before. there are a variety of other government programs that will be drastically cut back on tuesday morning if we don't get some kind of a deal by monday night. >> you know, ryan, when you look at -- when clarence was talking,ives looking and i think i have it. bills that republicans and congress have blocked this year....
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Dec 24, 2012
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there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues, including tax rate hikes even ugh ih i don't like them, to get a-- to save the country from becoming greece, tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. ratey republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> glor: with christmas just two nuys away last minute gift buyers are out. today shopper track said raturday was the busiest da
there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done....
WHUT (Howard University Television)
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Dec 31, 2012
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do we balance the budget, make cuts on, you know, by cutting social programs for the poor? do it we do it by keeping tax rates low for the rich? and ultimately we have to decide as a community who has to foot the bill to get us back on solid financial ground. and so there's a lot of religious groups have said, "yes, we need to do something about our fiscal mess, but we cannot do it in an immoral way and we cannot do it in a way that punishes the people who can least afford it, and rewards the people who can." >> one of the things that's gonna be coming up is the realization more and more of what's in the obama healthcare plan as things begin to kick in. who wants to pick up on that, on the requirement that, for instance, that groups offer contraceptive coverage? >> well, that's gonna be very controversial and that's gonna come up again very early in this year because the mandate that came down from the obama administration that employers cover contraceptive services free of charge and that includes many faith-based employers, and so you had this coalition of catholic church
do we balance the budget, make cuts on, you know, by cutting social programs for the poor? do it we do it by keeping tax rates low for the rich? and ultimately we have to decide as a community who has to foot the bill to get us back on solid financial ground. and so there's a lot of religious groups have said, "yes, we need to do something about our fiscal mess, but we cannot do it in an immoral way and we cannot do it in a way that punishes the people who can least afford it, and rewards...
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host: what led to the fiscal cliff? guest: the fiscal cliff is the combination of a bunch of different tax and spending decisions made by washington, dating back over the past 12 years. we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two years, takes about two percentage points off people's taxes, bill will end on monday. business tax breaks, bill will end on monday. the alternative minimum tax, which is confusing, but it would be a disaster if that was not taken care of, because it would raise the taxes of about 30 million americans for their 2012 income and 2013. and all the confusion could screw up the whole tax filing season. who knows when you will be filing your taxes, because the irs does not know which tax rates will be applied and who will be responsible for
host: what led to the fiscal cliff? guest: the fiscal cliff is the combination of a bunch of different tax and spending decisions made by washington, dating back over the past 12 years. we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two...
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if the fiscal cliff hits. i mean, this is the wrong posture. we don't want people that create jobs, people that decide how many people will be hired in the next year to be having -- to have bad karma now. we want people looking forward in a positive way, how we're going to grow into new markets, how to export more. we need the country to be more competitive so we can export to china, mexico, export to canada. that's critical, growth. if we have growth, we hire more people. dagen: drew, thank you, great to see you. happy new year. >> thank you, go rg iii. dagen: yeah, babe! we'll kick the cowboys you know what into mexico. drew, thank you, be well. end on a positive note. positive newses too for the housing market, recovery on the way. anthony sanders is here saying washington better not screw it up. in a show of arms, iran's military moves and what that means for the price of oil and gasoline here at home. look at how oil is trading today, well above $90 barrel a mark, down just slightly, but close to 91 bucks
if the fiscal cliff hits. i mean, this is the wrong posture. we don't want people that create jobs, people that decide how many people will be hired in the next year to be having -- to have bad karma now. we want people looking forward in a positive way, how we're going to grow into new markets, how to export more. we need the country to be more competitive so we can export to china, mexico, export to canada. that's critical, growth. if we have growth, we hire more people. dagen: drew, thank...
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i would rather see a much bigger fiscal cliff in the way of government spending cuts. that's what we really need. but if we're not going to do that, we're not going to cut spending, then the middle class has to brace for the bad news. they have to pay for all this government and the best way to do it is with taxes. unfortunately, taxes on the rich are not going to work. they are already overtaxed. it's the middle class that's going to have to pay more if we want all this government. >> do you think they can, peter, without destroying the economy? because the question i asked extensively last week is why is a couple hundred dollar tax rise to the middle class a doom now, but during the clinton era, it was praised? >> well, people don't have the home equity they had back then and they don't have the stock market wealth they had back then. >> costs have gone up. >> inflation, inflation has -- look at how much gas costs now compared to what it cost back then. food is a lot more expensive. look, the economy is buckling under the weight of all this government. no, i don't th
i would rather see a much bigger fiscal cliff in the way of government spending cuts. that's what we really need. but if we're not going to do that, we're not going to cut spending, then the middle class has to brace for the bad news. they have to pay for all this government and the best way to do it is with taxes. unfortunately, taxes on the rich are not going to work. they are already overtaxed. it's the middle class that's going to have to pay more if we want all this government. >> do...
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fiscal cliff last minute deal looks set for a new year tax hike in america for the time being at least. you're watching a very happy new year too. new year's global race has wrapped up so let's take a quick look at some of the most spectacular celebrations being held so far new zealand was among the first to washington's a pretty proud spot the harbor no draw to display the city's sky tower almost two million people turned out he celebration australia sydney skyline erupted with a nonstandard draw dropping for works at midnight from the bridge. night need to move on to asia with hong kong which really built up the tension of the countdown the top the sky from both land and sea europe has also welcomed the new year major fireworks display at the brandenburg gate and burnin and becoming one of the world's largest open air parties and a dazzling display also splashed skies above the london eye in the u.k. capital. to million spectators descend york's times square celebrate the event a traditional. new year in russia officially kicked off when the clock tower in the moscow rang out twelve
fiscal cliff last minute deal looks set for a new year tax hike in america for the time being at least. you're watching a very happy new year too. new year's global race has wrapped up so let's take a quick look at some of the most spectacular celebrations being held so far new zealand was among the first to washington's a pretty proud spot the harbor no draw to display the city's sky tower almost two million people turned out he celebration australia sydney skyline erupted with a nonstandard...